xToken partners with Kyber to provide convenient KNC staking services!
Instead of voting on the KyberDAO, users can stake KNC tokens in a KNC Pool to mint unique xKNC Tokens that represent their stake and voting preference.
🔹The KNC Pool will vote on their behalf in every epoch based on their chosen preference or mandate
a) xKNCa will always vote to increase stakers’ rewards
b) xKNCb will always vote to increase reserve rebates
🔹ETH rewards received from the KyberDAO are converted to KNC and the amount of KNC in the pool will rise
🔹The xKNC tokens that users had minted earlier will be worth more KNC than before (since there is more KNC in the pool)
🔹Users have full control over their KNC in the pool and can withdraw their tokens anytime by burning their xKNC
Learn more: https://medium.com/xtoken/introducing-xtoken-2fd50d0f943b
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